Tag Archives: Chris Bane

Veterans who own small businesses in Arizona can save up to $3,000 by tapping into a new loan program called VetLoan Advantage.

The program, offered by CDC Small Business Finance, features rebates and fee waivers associated with SBA-504 loans (for commercial real estate purchases) and Community Advantage loans for working capital, equipment purchases and other needs.

According to the U.S. Small Business Administration, veterans are at least 45 percent more likely than those with no military experience to be entrepreneurs, and often times face challenges in raising capital or getting a conventional loan.

“Veteran-owned small businesses employ nearly 5.8 million people nationwide, making the need for loan assistance vital to our recovering economy, said Chris Bane, loan officer with CDC Small Business Finance. “These programs are our way of saying thanks to vets for their honorable service.”

The VetLoan Advantage programs in Arizona by CDC include:

SBA-504 – for purchasing commercial/industrial buildings or large equipment. CDC will issue a cash rebate up to $3,000 for any funded loan to help veteran owners offset loan expenses. The SBA-504 loan offers a low-down payment (typically 10%) and long-term fixed rates (now under 5%).

Community Advantage – provides up to $250,000 for working capital, equipment, inventory, tenant improvements and business acquisition. CDC will waive the packaging fee for veterans, a savings of up to $2,500.